A bill to provide for the phased withdrawal of U.S. Armed Forces from Korea.

Directs the President to submit a plan to the Speaker of the House of Representatives and to specified committees of the Senate for: (1) the phased withdrawal of all United States Armed Forces and all United States tactical nuclear weapons from Korea beginning no later than fiscal year 1979 and ending by the end of fiscal year 1981; and (2) the modernization of the Armed Forces of the Republic of Korea. Authorizes the President to revise such plan under specified circumstances. Directs the President to report annually to the Speaker and specified committees regarding such plan.